Customs Hosts High-Level Forum for Government-Owned Companies

Oluwakemi Kindness

The Nigeria Customs Service (NCS), has underscored the significance of corporate governance, financial autonomy, and operational efficiency in managing government-owned enterprises, particularly those under military and paramilitary organisations.

Comptroller-General of Customs (CGC), Adewale Adeniyi, stated this when the NCS hosted a high-level roundtable discussion for key stakeholders from the military, paramilitary, and financial sectors on operational best practices for government-owned companies at its Headquarters in Maitama Abuja.

In his keynote address, CGC Adeniyi emphasized that the Nigeria Customs Service operates four companies, each contributing to economic growth, job creation, and service delivery.

“We are here today to examine these companies’ operational structures, corporate governance, and financial realities. By sharing experiences and identifying challenges, we can develop solutions that will drive growth and efficiency,” he stated.

Air Vice Marshal Mohammed Umar (Rtd.) provided insights into the establishment and management of military-owned companies, tracing their evolution and impact. He highlighted the pioneering role of Engineering and Technical Services Limited, followed by other entities such as Properties, Housing and Construction Services, and the Nigerian Air Force Investment Company Limited.

Another expert, Rear Admiral Suleiman Abdullahi, former Director of Logistics and Defence Administration, discussed the unique challenges faced by government-owned companies, particularly the delicate balance between government oversight and business autonomy.

“Understanding the legal and structural frameworks of such companies is essential for their sustainability,” he noted.

The roundtable discussion came at a crucial time when government-owned enterprises strive to enhance efficiency and profitability while aligning with broader governance structures. The discussions fostered collaboration between security agencies and business entities, paving the way for improved operational standards.

Participants at the conference concluded with a renewed commitment to strengthening governance, enhancing operational efficiency, and ensuring government-owned enterprises remain viable contributors to national economic growth.

The one-day event was attended by the Comptroller-General of Customs (CGC), Adewale Adeniyi, alongside his management team, representatives from the Ministry of Finance, senior officers from the Nigerian Air Force, and board members of various government-owned companies. Also present were distinguished guest speakers, including Rear Admiral Suleiman Abdullahi, Air Vice Marshal Mohammed Umar (Rtd.), Professor Peter Akper, SAN, Wing Commander Mohammed Mamu, and Managing Partner of Anaebonam Ken & Co, Christopher Ekwozor.